New Delhi, Oct. 13 -- Commerce and Industry Minister Piyush Goyal on Monday said India is poised to emerge as a global automobile manufacturing hub, with European carmakers likely to shift production to the country amid rising regulatory and manufacturing costs in Europe.

Speaking at the 'Dilli Dialogue: Policies for a Future-Ready India' in New Delhi, Goyal said, "Everybody is going to come and manufacture in India and with Europe having such crazy regulations, it is going to be impossible to be competitive. All the European manufacturers will come to India," PTI reported.

Referring to India's free trade agreements (FTAs) with the United Kingdom and the European Union (EU), he noted that the country had offered quota-based tariff conce...